According to MLW Radio earlier last month, the first two seasons of Lucha Underground will be made available on Netflix. They also shot down reports that Lucha will be leaving El Rey network and is NOT for sale:

There is no truth to Lucha Underground leaving @Elreynetwork or the company being for sale. Netflix deal will air first 2 seasons.

The first two seasons of Lucha Underground will hit Netflix on February 15 for the US and parts of North America, while Netflix Canada confirmed on Twitter that it’ll be getting Lucha Underground as well: